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Sep 30, 2012 12:00pm EDT
is unable to govern in key economic areas. is an extraordinary moment. >> host: if obama is reelected, what are we suggesting -- another downgrade? >> i think if the house and senate remain as they are and obama is reelected. in other words, the status quo continues, i think that we did stagnation. >> if the democrats gain control of the senate again? >> if they continue to control the senate. they do control the house. i have seen stagnation going forward. in ability, the lack of trust of key players is enormous. the inability to think outside the box. let's look at the bigger picture here. the entitlement state was created in the 1930s and expanded in the 1950s, but it is almost 50 years old. one other thing in american life is unchanged and 50 years? >> the fact that one political party, the democrats, are not prepared to make any reforms in entitlement is simply extraordinary. this is a crisis that is happening not just in the united states, but throughout the western world, western europe, this is what is happening in japan and australia. the baby boomers retire, we are
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